zak-brown-hungarian-gp-lando-norris-oscar-piastri

Zak Brown celebrates Hungarian GP success with Lando Norris and Oscar Piastri. Photo: RacePictures.

From crisis to champions: McLaren post 4X profit rise

15:35, 01 Oct

byNorberto Mujica

McLaren Racing has announced a major financial jump during the 2024 Formula 1 season, posting a post-tax profit of £54.2 million on revenues of £530.3 million, up from £12.9 million profit on £431.1 million in 2023.

The results come after a period of uncertainty for the team, which came close to collapse during the pandemic. McLaren’s turnaround shows the team has stabilised both on and off the track.

The 2024 season saw McLaren secure its first Constructors’ Championship in 26 years. CEO Zak Brown said: “2024 saw McLaren Racing Limited reclaim the Formula One Constructors’ Championship, marking a triumphant return to the top after 26 years.”

He added that the success reflected the efforts of the whole organisation, noting: “The season’s success was a testament to the hard work of the entire team, supported by our valued partners and passionate fans.

McLaren's returned to the top financially as well. Photo: RacePictures.

"It also demonstrated the team’s remarkable progress in recent seasons, rising from 4th position in 2023 to 1st in 2024.”

Brown highlighted the team’s achievements beyond Formula 1 as well, pointing out: “Success extended across other racing series as well. In IndyCar, Pato O’Ward secured three race wins while in Formula E, Sam Bird delivered the team’s first-ever victory in Sao Paulo.”

A breakdown of McLaren’s accounts shows Formula 1 contributed £488.4 million in revenue, up from £387 million, while IndyCar brought in £45.2 million. The rest came from Formula E, Extreme E, and corporate activities.

McLaren aim for a Singapore bounce back

After a rather tumultuous run in the past three Grands Prix marred by two DNF's, one a piece for Lando Norris and Oscar Piastri, McLaren are looking to return to its pre-summer break stellar form. The Singapore Grand Prix may just be the performance answer the Woking-based team are searching for.

GPblog's latest F1 Paddock Update

Want to stay up-to-date with what happens in the F1 paddock? Then GPblog's F1 Paddock Update video is the perfect way to do it. Subscribe to GPblog's YouTube channel and turn on notifications to never miss the latest episodes.